Forex pairs & markets covered in this week’s Weekly Forex Forecast & Forex Analysis:
USD (DXY), EUR, GBP, CHF, JPY, CAD, AUD & NZD.
EURUSD, EURJPY, GBPUSD, AUDUSD, NZDUSD, NZDCHF, NZDJPY, Crude Oil (WTI), CADJPY, AUDJPY, GBPCHF, GBPJPY, EURCHF, SPX (S&P 500), Russell 2000, Nasdaq, Dow Jones, Nifty, XAUUSD (Gold Analysis), XAGUSD (Silver Analysis), BTCUSD (Bitcoin Analysis) & more!
Weekly notes
Forex markets continue to be dictated by the recent surge in the DXY with commodity currencies continuing to be exposed to the downside due to DXY strength.
This week the New Zealand Dollar stands out as the best short opportunity with the Euro coming in second place as the second-best shorting opportunity this week.
On the strong side the DXY remains in good shape however may be due a short pullback first before further advances.
The Swiss Franc and Japanese Yen also show signs of strength coming into this week with the overall Forex complex pointing towards Deflation, as safe-haven currencies score well and commodity currencies score badly this week.
This points to the risk of further downside in Stocks this week as traders are set to continue to unwind some of their risk, even as fears subside over the new "Omicron" variant are likely to subside.
CFDs & FX are leveraged products that incur a high level of risk and can result in the loss of all your capital and may therefore not be suitable for all investors. You should not risk more than you are prepared to lose and before deciding to trade, please ensure you understand the risks involved, take the level of your experience into consideration and seek independent advice if necessary. By using information here, or elsewhere, provided by Get Me Trading, all persons agree not to hold Get Me Trading, or any agents of Get Me Trading, liable for their own trading performance or the performance of others.
Recommended Content
Editors’ Picks
EUR/USD stays near 1.0800 after upbeat US data
EUR/USD stays under modest bearish pressure and trades near 1.0800 in the American session on Thursday. The data from the US showed that the real GDP growth for the fourth quarter got revised higher to 3.4% from 3.2%, supporting the USD and weighing on the pair.
GBP/USD stays in daily range above 1.2600
GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth helps the USD stay resilient against its rivals and limits the pair's upside.
Gold pulls away from daily highs, holds above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays above 4.2% after upbeat US data and makes it difficult for XAU/USD to preserve its bullish momentum.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
Portfolio rebalancing and reflation trades emerge into Q2
Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.